China Southern Asset Management appoints new GM
08 January 2013
News, China, Hong Kong
By Asia Asset Management
China Southern Asset Management (CSAM) has announced that the firm’s chief executive Wu Wanshan has taken over from Gao Liangyu as general manager, though the position will initially be held in an interim capacity. Mr. Gao will move to the position of deputy chief executive and head of CSOP Asset Management, the Hong Kong-based subsidiary of CSAM.
Joining CSAM in 1998, Mr. Gao has steered the firm into outperformance. In 2012, its equity funds and bond funds reported average returns of 9.8% and 12.13%, respectively. The fund veteran earlier told local media that he would be increasing his focus on CSOP Asset Management. The firm will continue to increase its exposure to the overseas markets, according to a report from Securities Times.
Mr. Wu held various senior positions in Huatai Securities before joining CSAM in 2004.
CSAM is the fourth largest Chinese asset manager, with total AUM of RMB 159.5 billion (US$25.3 billion).
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